Polish Pension Bail-In is a Preview: Your Wealth Will be Seized!

Andy Hoffman and Jeff Nielson join the SGTReport for an in-depth precious metals and monetary Ponzi update. At the front of mind is the Polish government’s announcement that it has seized 50% of privately-owned pension funds from its citizens to shore up government fiscal shortfalls. It’s a BAIL-IN, though the mockingbird media has refused to cover it. It’s Cyprus Part Deux.
It’s the new trend worldwide, and Andy and Jeff warn you, it’s coming here next.

11 thoughts on “Polish Pension Bail-In is a Preview: Your Wealth Will be Seized!”

The USG stopped counting the umemployed people. These unfortunate souls do not count any more
The USG has stopped counting the national debt. That does not matter any more. We are now about $63 billion from $17 trillion in debt
The reason the USG can stop counting is due to the outright theft of the Federal Pension 401k plans. That $1.7 trillion dollar honey pot is being looted today to pay the USG bills, buy up the trillions in UST notes coming due and to build up the FIAT needed to fight the upcoming Syrian war.
This 401k pool of funds is barely 10% of the private pension plan balances that are estimated to be about $19 trillion.
I have said it 100 times. If you have a pension plan that can be moved to precious metals, cashed in or somehow placed in a safe haven, it needs to be done now. It’s not whether the confiscation will happen, it is a matter of when. The Senate bill and GRA retirement forced expropriation law that was signed into law by Pelosi’s Congress plus the NDRP Executive order signed by KLUMMAC late last year are intended for use, not window dressing
Like the military with a new weapon system, or a child with a new toy, the laws formulated by the government will be used. There is a flock of black swans circling our nation and world. The thefts will start as soon as a black swan event of sufficient magnitude hits us. At that point it will be too late. The brokerages, banks and other pension plan administrators have already been informed of these decisions.
The thefts will happen much like bank holidays. The pension plan administrators will be informed that the contents of these plans are now the property of the US government. The BEST THAT CAN BE EXPECTED is that the owners of these retirement plans might get US Treasury notes for their plan funds. Or maybe, like Poland and Cyrprus, your funds will simply be taken without compensation.
That is the ONLY think I am not sure of. Will you be compensated? If the cost to withdraw funds from your plan is 50% in taxes and penalties, it’s is a certainty that will be equal to the 50% confiscation assured by the dear leaders in our government. It could be 100% and that money is gone forever.

“The USG stopped counting the umemployed people. These unfortunate souls do not count any more”

Of course they don’t count any more. The USG views its citizens as cash cows to be milked to the extent that they command and at their leisure. Someone who is not working any more has withdrawn from the herd of potential milkees and thereby have reduced their value to the USG to zero. Why would they count zeroes?

“The USG has stopped counting the national debt. That does not matter any more.”

It will matter when it is to their advantage for it to matter. Until then, however, it does not matter.

“The reason the USG can stop counting is due to the outright theft of the Federal Pension 401k plans.”

There was a time when federal pensions were called 457 plans. Some federal employees have what’s called a Thrift Savings Plan or TSP. By whatever name it is called, one has to wonder why it is that it is being looted and the USG is not being hauled into Federal Court over it. Is the fix in? Are we seeing some temporary borrowing now with the promise of a much larger pay-back later scenario? It’s hard to say but more is going on with this than we know. The whole thing smells to high heaven if we only look at what has been made public knowledge, so there MUST be something else to this.

But I am very curious to know not only what but why. Rather than steal the pensions of their employees, why not just print the money needed to cover the bills? Bernanke and Lew are no strangers to rolling the presses, so why risk ticking off those who are in a good position to hurt them politically via knowing many of the inside stories on various scandals, both known and unknown?

“There is a flock of black swans circling our nation and world.”

I have seen them but only from a great distance and I cannot tell if they are black swans or buzzards.

“The brokerages, banks and other pension plan administrators have already been informed of these decisions.”

They have? Man, would I ever LOVE to see a copy of THAT letter!

“The pension plan administrators will be informed that the contents of these plans are now the property of the US government.”

Will that be the moment when some of these pension plan admins say to the USG, “Well, we have 5,000 lawyers on our staff and a $50B war chest and no you are not taking any of our client’s money without a fight that lasts for several years and goes all the way to the USSC!”? 😉

“That is the ONLY think I am not sure of. Will you be compensated?”

There is a huge volume of US case law which says that the taking of people’s private property without cause or compensation is illegal. Because of this, it is likely that there will be some form of compensation offered. Whether or not that will actually be worth anything is another question. Even when FDR used EO 6102 to grab the gold from US citizens, they were paid the going rate for it in paper currency. Yes, that sucked, especially after the USD was devalued by nearly 70% via revaluing gold from $20.67 an oz. to $35 an oz. Economics text books often mention this gold revaluation but never ever admit that it was actually a significant USD devaluation.

The info that I have read on the Polish retirement plan grab is that this only affects bonds held in these plans and not equities… yet. If the USG sticks to this same plan book, they will start with bonds, realize that there is more money in equities, and move on to trying to grab them as well… all for our own good, of course. This double grab mechanism could serve as a canary in the coal mine for anyone who has a retirement plan that they would not like to have grabbed. They could sell their bond holdings now, if any, and then wait to see if bonds were being grabbed from other people’s plans. If so, then that would be the signal to sell their equities as well and withdraw the money for a safer investment of some kind.

” If the cost to withdraw funds from your plan is 50% in taxes and penalties, it’s is a certainty that will be equal to the 50% confiscation assured by the dear leaders in our government. It could be 100% and that money is gone forever.”

While this is always possible, one does have to ask just how likely and how imminent it is. Considering how gutless our political class really is, do they really want to rouse the sheeple into a dangerous and united stampede, complete with ropes, torches, and pitchforks? The expression, “Them’s fightin’ words, mister!” has application here, as such an action would be a declaration of financial war on all US citizens. If pensions were attacked in this way, would bank accounts and other forms of personal wealth be far behind? What about other private property, such as homes, businesses, vehicles, and land? Would they be up for grabs too? This sort of thing looks like a giant Pandora’s box… something best left alone.

The REAL problem High Tech quality Cheap Chinese made TV’s & the luciferian owed Media insuring the Viewers misinformation and disinformation with Pleasure it’s all we have..sad ! Billionaires owing your MEDIA is the only way in the War for the minds of the people..

It’s coming. We’ve seen it with Greece and Cyprus too. Gotta hedge the bets a little though, I still put into my 403b at work as they have incredible matching and a salary compensation into the 403 also, BUT (huge BUT here…); I keep the WHOLE thing in cash only (trust me, it’s not much). Yeah, I’m making an entire .25% on the stuff but when helo Ben pulls the rug out from under the DJIA I won’t lose a dime. At the pace we’re going I figure I’ll be layed off long before zero gets his hands on my loot – at that point I’ll just walk away with my cash and not look back. Plus a few good days on my Ag and my Ag is worth more than my ‘retirement’. :0

Of course at 21.90 I also just acquired a few more ounces of Ag to add to the meager stash….sorry SD, had to be from someone else – the ordering site fought me the entire way.

Thoughts??? Hmmm…. The ONLY reason I’m doing it is because I have no choice right now; I’ve got a small chunk of change in there and can’t touch it until I leave or die. I’m keeping my work account active for a few other reasons; 50% matching (FREE money), a almost 4% salary contribution and it’s a hedge against things NOT blowing up (silly me…). Of course I also stack when I can.

If you read my comment above you’ll notice I keep everything in the cash only account. Yeah, some will poo-poo that and that’s fine but when/if the DJIA drops through the floor I’ll STILL be earning a meager pittance. I’m not walking away from free money nor am I going to gamble in the market.

If you’re in it and it’s worth it, as it is for me, then do it wisely with the understanding that you may wake up tomorrow and have nothing more than an I.O.U. from the (corrupt) US Government.

Actually, PMG, I think that your current plan has significant merit. One of the prime rules of investing is to diversity. This is one of the few advantages that small investors can use to protect their assets. Yes, pension plans could be under attack, but when? Next year? Next decade? 30 years from now? Anyone who knows isn’t talking and those of us who talk about it don’t know the real inside story. We can see that the stage is set for something to happen but don’t know what or when. Prepping for multiple possibilities seems wise to me. No one has the right to poop on your choice here. It’s YOUR money, and what you decide to do with it is 100% your business.

In my case, I have a significant amount of money in my IRA. So does my wife. Very little of this is in bonds. I own one mutual fund that has a mixture of big cap blue chip stocks and some AA and up rated corporate bonds. The other 95% of our money is in equities and cash. I am withdrawing money from my IRA at a faster rate than I need to live on and the extra is going into physical gold and silver. I also have a substantial inheritance coming my way, much of which will be put into PMs as well. This is my plan and I am sticking to it. Others will have their own ideas that could very well fit their financial situation better than my plan or anyone else’s plan. It’s all about tailoring your financial plans to your specific situation and making sure that you are as well diversified as you can be.

Just so that people who read my rants about the pension plan, the extraction from the plan may not be possible. If that is the case and you have the flexibility to target an asset that could be as well protected from Fed theft, so much the better. Some times the situation is you can run but not hide out totally. A strategy of bobbing and weaving, moving around within asset classes is best
Some people personal or business retirement plans they control. Then to extraction of the funds to safe harbor is more feasible
Using the 401K plans and the like to build your nest egg is advisable if that is the best option. The back plan or buffer to that is allocation between pension plan and outside the plan with precious metals as one option

A couple of thoughts re your comments. I recall seeing a copy of a letter that referenced the potential for compelling the fund managers, Fidelity, TD Waterhouse etc to move pension funds into government obligations and bonds. It has been over a year and may have been published by Warren Pollock and Ann Barnhardt. I can’t find it but it sticks in my mind like the scoop that Silver Doctors made of the UK, Canadian and US Bail-in written agreements that came about in the latter part of 2012 or early 2013. The plans of our governments to bail in the TBTF banks was hiding in plain sight and disclosed first on SD. These sorts of agreements float around without much critical review, in the same manner of the NDRP, the Executive Order that gives that branch the extra-legal standing to scoop up whatever asset they see fit in time of crisis. And we have seen plenty of scandals, false flags and the like that allowed our Dear Leaders, including IL Duce, to be poised to steal our assets. It’s be couched in the same phraseology that the Polish, Spanish, Hungarian and Cypriot governments used to steal their citizens funds to bail out their governments, banks or both
The GRA or Guaranteed Retirement Annuity, a product of the fertile mind of Theresa Ghillarduci, was created by Congress law writers and passed by the Pelosi Congress in 2008, right after KLUMMAC was elected. This annuity was a forced expropriation of pension plans that would gradually move the private plan funds into these GRAs. It would be incremental and prompted by a “NATIONAL EMERGENCY’ with perhaps 25% of your pension moved into the GRA to buy treasury notes and bonds when the market for these obligations failed. National emergency, national security etc etc is the key wording here
As for the Thrift Savings Plans, the Fed 401k’s, from what I’ve read and deduced, these funds have been used to keep the debt from hitting the limits. Our national debt is about $16.938 trillion. The government stopped counted at about $16.695 trillion The $250 billion or so is the deficit spending not noted in the government’s official tally. Thus the government and Lew can put off the day of reckoning to push up the debt limit and stall the inevitable downgrade of the US debt rating to AA with a negative outlook—Ooops, S&P got their nads bashed for saying it like it is. Maybe closer to Aa- with a negative rating Something long the lines of The People’s Democration Republic of Outer Malamutian.

” I recall seeing a copy of a letter that referenced the potential for compelling the fund managers, Fidelity, TD Waterhouse etc to move pension funds into government obligations and bonds.”

I’m not saying that this does not exist, only that I have not seen it and very much want to see it, if at all possible.

“These sorts of agreements float around without much critical review, in the same manner of the NDRP, the Executive Order that gives that branch the extra-legal standing to scoop up whatever asset they see fit in time of crisis.”

Right… and only THEY get to decide what constitutes a “crisis”. This is like raising a kid who thinks that him running out of spending money is a “crisis”. It’s not.

Government needs to be run more like a business. When something isn’t working, businesses quit doing it and look for other ways to make money that will work. But not the government, oh, no. When what they are doing isn’t working, they pursue 3 options: 1) lie about it; 2) do more of it, since what was being done was correct but insufficient; and 3) steal money from others so they can squander that too. Unlike popular game shows, they can choose doors 1, 2, and 3 all at the same time. Such a deal.

“The GRA or Guaranteed Retirement Annuity, a product of the fertile mind of Theresa Ghillarduci…”

Right. Fertile in the same sense as manure makes a farmer’s fields more fertile.

Yes, it could be, but then a USSC ruling that this was unconstitutional would pretty much bring that to a screeching halt and there are significant reasons to believe that this could occur. Wall Street certainly wouldn’t be happy about this, as it would either cut deeply into their profits or destroy the US stock and bond markets altogether. Neither of which should be too appealing to a lot of congress-critters out there who depend on Wall Street and the big banks for their graft and corruption payments.

It is sad and unfortunate that the ninnies in DC cannot fathom that we simply have too much government. We have more than we can afford and it is consuming this nation. Reducing its size and voracious appetite for our money would improve the US economy and employment immensely… and quickly, too. Capital wasted by government doesn’t add a brass farthing to our GDP but it does remove capital from the private sector, where it could have been allocated appropriately and profitably. Those in the current regime in DC see “profit” as a dirty word, yet this is what supports all of us… AND them too! Idiots.

“As for the Thrift Savings Plans, the Fed 401k’s, from what I’ve read and deduced, these funds have been used to keep the debt from hitting the limits.”

I have read that as well and am still wondering why the federal employees unions are not screeching their heads off over it. I sense a pay-off of some kind but have no idea what. It absolutely reeks of quid pro quo. No doubt, it will be juicy and it will come out of our hides at some point. 🙁

“The government stopped counted at about $16.695 trillion…”

Stopping counting… the ONE thing that the US Gov is REALLY good at. X-[

“Thus the government and Lew can put off the day of reckoning to push up the debt limit and stall the inevitable downgrade of the US debt rating to AA with a negative outlook—Ooops, S&P got their nads bashed for saying it like it is.”

Personally, I thought that the S&P rating was quite generous. So what if the political hacks didn’t like it because it tipped over their apple cart of feel-good-ism. Well, wahhh, and all that. If I were rating the US Gov’s debt today, I would give them a B or BB rating and not anything anywhere near AA. Even if the credit rating agencies reduce the US Gov’s credit rating, they will still be too generous, considering that the debt IS out of control and there is NO real effort being made by this regime or either chamber of congress to even address the problem in any meaningful way. Put another way, if the US Gov was a person I knew, I would NOT loan them ANY money, EVER.

I’ve been waiting for them to call a spending freeze at, say, 2006 levels and then implement it. They do not need to trim here and tweak there. Entire US Gov departments need to be slashed and others brought under strict fiscal discipline. A real leader would call in all of his department heads, tell them the truth of our national financial situation, and have them take the next 30 days to write up on 2 sheets of paper what their plan is to cut their department size in half. They should also be told that this may or may not be the only cut required. Any department head who does not provide this in the time allotted would be summarily fired and replaced by his #2, and so on until these reports are on the president’s desk. Action would be taken once the reports were reviewed and the US Gov WOULD shrink to a manageable size. Now, THAT is leadership… and, sadly, we are nowhere even close to that with this regime or with this congress.

THE ANALYSIS AND DISCUSSION PROVIDED ON SILVERDOCTORS IS FOR YOUR EDUCATION AND ENTERTAINMENT ONLY, IT IS NOT RECOMMENDED FOR TRADING PURPOSES. THE DOC IS NOT AN INVESTMENT ADVISER AND INFORMATION OBTAINED HERE SHOULD NOT BE TAKEN FOR PROFESSIONAL INVESTMENT ADVICE. THE COMMENTARY ON SILVERDOCTORS REFLECTS THE OPINIONS OF THE DOC AND OTHER CONTRIBUTING AUTHORS. YOUR OWN DUE DILIGENCE IS RECOMMENDED BEFORE BUYING OR SELLING ANY INVESTMENTS, SECURITIES, OR PRECIOUS METALS. WE DO NOT SHARE IN YOUR PROFITS, AND THUS WILL NOT TAKE RESPONSIBILITY FOR YOUR LOSSES AS WELL.